China's softwood lumber imports see 42% increase in Q2 2020
According to forest industry insight by Wood Resources International, China increased importation of softwood lumber by 42% quarter-on-quarter in Q2 2020, reaching 7.1 million cubic metres. This large increase followed a quarter where import volumes had fallen to a four-year low.
As estimated 8% of globally traded lumber is shipped to the Middle East/Northern Africa (MENA) region. Following two years of increases, this year saw imports decline.
Record high lumber prices in the United Staes (US) and slightly lower costs for sawlogs moved 2Q 2020 gross margins for US sawmills to some of the highest levels seen since 2005.
Source: Wood Resources International